Scalable Capital's revelation that it is to offer £200 fixed-fee advice over the phone or face-to-face alongside its online proposition shows the firm has learnt lessons but, writes Tom Ellis, it also offers food for thought for financial advisers too
Note: To avoid confusion, when reading ‘robo-adviser' in this article please also read ‘online discretionary wealth manager', 'digital investment manager', 'digital wealth manager' or any other concoction of words marketing teams have thought up. Scalable Capital has experienced a decent start to life in a relatively new market. Launched in Germany in February 2016 and in the UK in July 2016, it says it has so far raised more than £600m from more than 20,000 clients. But this is not a significant sum for an international firm that hires more than 70 people and charges 0.75% for the ET...
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